said that “credit is capital.” Is this so or
- Define capital, and examine the meaning of the term in the following statements:
(a.) Demand for commodities can not create capital.
(b.) Credit is not a creation, but a transfer of capital.
(c.) Wages depend upon the proportion between population and capital.
- State the law of the value of money which governs general prices. What change is to be made in the statement, if credit is to be taken into consideration?
- What is the part which instruments of credit, other than bank-notes, play in the exchange of commodities?
- Mention some of the principal features of a credit crisis.
- What